From the monthly archives: May 2016

Posted on Monday, May 30, 2016We are now eight years on from the GFC and the uncertainties around the global economic outlook remain. Periodic fears of recession and deflation have roiled markets, and a lack of growth has led to profits flat lining for several years. Central banks have slashed cash rates, with negative rates in some countries. In Australia the aftermath of the mining boom continues to reverberate and the Reserve Bank of Australia has taken the cash rate to unprecedented low levels.Read the rest of entry »

At Westpac, helping Australians to achieve their goal of owning a home or investment property is core to our purpose.We regularly review our credit policies to ensure we continue to lend responsibly, and have policies that are both aligned to our risk appetite and consistent with the economic and competitive landscape.

For these reasons, Westpac will no longer lend to offshore customers who are not citizens or residents of Australia with an eligible visa